June 19, 2025/Proshare By FirstHoldCo Plc. Source: NGX Group First HoldCo Plc has issued a clarification regarding the Central Bank of Nigeria’s (CBN) circular, which relates to regulatory forbearance on Single Obligor Limit (SOL) breaches and certain credit facilities. According to the release, its primary banking subsidiary, First Bank of […]
Results & Dividends
Guinness Nigeria Plc Q3-25 Update Earnings Recovery Underway; HOLD Rating Maintained
June 19, 2025/Cordros Report We update our views on Guinness Nigeria Plc (GUINNESS) for 2025E. The brewer’s 9M-25 results confirm a sharp turnaround in earnings, driven by aggressive pricing, improved product mix, and cost containment efforts. After a NGN61.65 billion loss in 9M-24, the company returned to profitability with a […]
Lafarge Africa Plc: Back in Focus
June 16, 2025/Cordros Report Lafarge Africa Plc (WAPCO) has delivered an impressive turnaround over the past twelve months, with the stock returning +152.9% in the time, driven by strong earnings growth, improved operating efficiency, attractive dividends, and investor excitement surrounding the proposed acquisition by Huaxin. Despite the rally, we believe […]
